Just came across some interesting numbers from Russ Daggatt, who apparently doesn’t blog, just sends interesting emails off to interesting people. In this case I’m taking them from a recent blogpost by David Brin (scroll down in the post a bit to get there). At any rate, here are the stats that I thought would be worth passing along:
here is an update in our comparison of eight years under Clinton versus nearly eight years under Bush:
Job growth under Clinton : 22.7 million jobs – 237,000 per month.
Job growth under Bush: 5.8 million jobs – 72,000 per month (and going DOWN).
There has been a net loss of jobs every month so far in 2008. Bush will have the distinction as the first president since World War II to preside over an economy in which federal government employment rose more rapidly than employment in the private sector (civilian federal government employment went DOWN substantially under Clinton).
The earnings of the average American family (or “real median household income” in economic parlance) peaked in 1999 at $49,222 and has fallen since. This is the first economic expansion in this country’s history when household income failed to set a new record. It will certainly decline further this year.
And how did investors do under Clinton vs. Bush? The Dow Jones Industrial Average went up from 3253 to 10,587 under Clinton (325%). It has gone up to 11,503 under Bush (8.7%). The S&P 500 went up from 447 to 1342 under Clinton (300%). It has gone DOWN to 1279 under Bush ( 4.7%). The NASDAQ went up from 700 to 2770 under Clinton (395%). It has gone DOWN to 2347 under Bush (-15.3%)
When Bush took office oil was $31/barrel. Now it is roughly $125/barrel. (That’s what happens when you put oil men in the White House.)
When Bush took office it took 93 cents to buy a Euro. Now it takes $1.56 to buy a Euro.
When Bush took office gold was around $250 an ounce. Now it is $915 an ounce.
I could go on, but you get the idea. The US economy did MUCH better under the fiscally-responsible “high tax” policies of Clinton than under the irresponsible “borrow and squander” policies of Bush.
Read the post linked to above if you want some more in-depth analysis of both McCain’s and Obama’s tax and healthcare plans and much food for thought.
And feel free to comment on the statistics too, because I’m sure someone out there has an opposing viewpoint :-)
UPDATE: Russ Daggatt is finally doing a blog - http://daggatt.blogspot.com/
Filled with all sort of good stuff, at least if your politics lean to the left… (like mine do).